Updated over 7 years ago on . Most recent reply
First Time Hard Money Loan
I am trying to secure funds for my first flip. All of the lenders I have found are requiring a %10 down payment. Are there any lenders that will lend based entirely on the deal equity and not require a down payment. Thanks!
Most Popular Reply
It will be extremely unlikely that you find a HML to give you 100% funding on your first deal.
They will all require you to have a down payment and some skin in the game.
You will also need funds for rehab because they typically reimburse you afterwards.
You'll either need to save up or get private money (friends, family, etc) for the down payment.
Otherwise you can always explore creative financing options like seller financed deals, etc.